CUBS Project Cancelled as UCC Halts €17 Million Cork City Business School Plan
A significant initiative by University College Cork (UCC) to establish the Cork University Business School (CUBS) has been officially discontinued. The project, valued at €17 million, was intended for the old Brooks Haughton site situated on South Terrace in Cork City. Despite no formal announcement from UCC, multiple sources have confirmed the cancellation of the plans.
Financial Overview of the CUBS Project
In addition to the €17 million allocated for the site, UCC has invested approximately €2 million over the past three years on architectural and associated services. This financial commitment included the appointment of RKD Architects in January 2022, following a competitive tender process for a €3.5 million contract.
Initial Plans and Project Features
The proposed CUBS facility was set to span 17,000 square meters and was designed to include:
- Teaching spaces
- Laboratories
- Meeting facilities
- Office spaces
- Catering services
UCC aimed for construction to commence in January 2024 after receiving planning permission in 2023. However, the project, which was in the works for nearly four years, did not progress as anticipated.
Challenges Impacting the Project
UCC cited “significant recent construction inflation” and shifts in higher education delivery as key reasons for abandoning the project. Changes in student attendance patterns post-pandemic have also contributed, revealing an excess capacity in third-level institutions. Furthermore, the anticipated foreign student income from China, which historically supported funding for such projects, has been disrupted.
International Student Enrollment Decline
The decline in international enrollments, particularly from Chinese students, poses an additional challenge. Post-graduate courses could yield substantial revenue, with fees reaching up to €20,000 per student. Recent issues surrounding complaints from Chinese students regarding exam outcomes have further complicated this situation, although these allegations lacked substantiating evidence.
Context of Controversy in Higher Education
The decision to cancel the CUBS project follows a controversy involving the University of Limerick (UL) regarding property deals that resulted in significant financial losses. The Comptroller and Auditor General criticized UL for its handling of transactions that had not undergone proper valuation, totaling losses of €8.2 million.
As UCC reassesses its long-term capital projects, it has reiterated its commitment to developing a facility for its business school. An update regarding the Cork University Business School is expected in the New Year.
